Mplx Lp (MPLX) Upgraded by BidaskClub to “Hold”
Mplx Lp (NYSE:MPLX) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
A number of other research firms have also issued reports on MPLX. Stifel Nicolaus reissued a “buy” rating and set a $42.00 price target (down from $43.00) on shares of Mplx Lp in a research report on Tuesday, September 5th. Zacks Investment Research lowered shares of Mplx Lp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 15th. Scotiabank set a $44.00 price target on shares of Mplx Lp and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mplx Lp in a report on Friday, July 28th. Finally, Guggenheim began coverage on shares of Mplx Lp in a report on Thursday, July 20th. They set a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $42.25.
Mplx Lp (NYSE MPLX) traded up 0.86% during trading on Friday, hitting $35.13. 2,939,930 shares of the company’s stock were exchanged. Mplx Lp has a 12-month low of $30.09 and a 12-month high of $39.43. The company’s 50-day moving average price is $34.20 and its 200 day moving average price is $34.85. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 41.97 and a beta of 1.36.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $884.70 million. During the same period last year, the firm posted ($0.11) EPS. Mplx Lp’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts forecast that Mplx Lp will post $0.96 earnings per share for the current fiscal year.
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In related news, VP C Corwin Bromley sold 2,500 shares of Mplx Lp stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the sale, the vice president now owns 123,705 shares of the company’s stock, valued at approximately $4,267,822.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 8,000 shares of company stock worth $276,910 in the last three months.
A number of institutional investors have recently added to or reduced their stakes in MPLX. Bank of America Corp DE grew its stake in Mplx Lp by 130.8% in the 1st quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock valued at $223,555,000 after acquiring an additional 3,511,264 shares during the period. Bank of Montreal Can grew its stake in Mplx Lp by 36.3% in the 2nd quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after acquiring an additional 1,661,578 shares during the period. Balyasny Asset Management LLC grew its stake in Mplx Lp by 351.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock valued at $54,545,000 after acquiring an additional 1,271,145 shares during the period. Alps Advisors Inc. grew its stake in Mplx Lp by 5.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock valued at $669,879,000 after acquiring an additional 1,015,105 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in Mplx Lp by 23.8% in the 1st quarter. Neuberger Berman Group LLC now owns 4,614,709 shares of the pipeline company’s stock valued at $166,499,000 after acquiring an additional 886,696 shares during the period. 66.17% of the stock is currently owned by hedge funds and other institutional investors.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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